Posted on 08/23/2013 8:10:08 AM PDT by whitedog57
Following the poor new homes sales report in the US and economic weakness in developing countries, we see gold and silver rising this morning.
Gold: gold082313
Silver: silver082313
And the USD/EUR is plunging.
usdeur666
And the USD/JPY is doing likewise.
usdjpy082313
The 10 year US Treasury yield is down 8 basis points.
ust10082313
Stay tuned!
If Gold can get and keep a 14-handle then we are off to the races.
Are we seeing a flight FROM the dollar?
I think this is a short-squeeze on the precious metals triggered by passing a technical boundary.
The end of USD reserve currency status is certainly coming, but not yet IMO.
“Something is brewing!”
It’s hazelnut coffee and it smells pretty good, want some?
That’s OK. Just the opposite will happen in the afternoon, and the markets will close unchanged.
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